The Maximization Assumption, Profit Maximization and Not-for-Profit Hospitals

© 2018, The Author(s) 2018. A questioning of the neoliberal consensus in the global economic order is creating turbulence in Western democracies. Long regarded as the only viable capitalist model, neoliberalism is now subjected to increasing scrutiny. Management education that has been aligned to a neoliberal worldview must now respond to this shifting landscape in order to retain its legitimacy. One core element of management education undergoing revision as a result is the case method of teaching. The case method’s traditionally narrow focus on training students to solve business problems is increasingly problematic in an environment where the structure of the capitalist system in which firms operate is now a topic of debate. To address this, we argue for a reconceptualization of the case method’s relationship with theory. This has conventionally taken two forms: a hostility to any inclusion of theory in the analytical process and an approach that uses theory as an instrument for profit maximization. We propose an alternative third approach that encourages students to engage in a critical questioning of business-as-usual capitalism from the perspective of multiple stakeholders, including managers, employees, unions, not-for-profit organizations, government, and the natural environment.

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Innovations in marketing of higher education: Foreign market entry mode of not-for-profit universities

Journal of Business and Industrial Marketing ◽

10.1108/jbim-07-2013-0153 ◽

2014 ◽

Vol 29 (6) ◽

pp. 546-558 ◽

Cited By ~ 19

Author(s):

Vik Naidoo ◽

Terry Wu

Keyword(s):

Qualitative Methodology ◽

Profit Maximization ◽

Entry Mode ◽

Foreign Market ◽

Foreign Market Entry ◽

Content Type ◽

For Profit ◽

Not For Profit ◽

Definition Of ◽

Foreign Market Entry Mode

Purpose – The purpose of this study is to examine the innovations in the international activities of not-for-profit (NFP) universities. While the entry mode literature is well addressed, particularly by international marketing and business scholars, an academically interesting and managerially relevant question relates to the applicability of extant research to the emerging phenomenon of internationalization in the NFP sector. Design/methodology/approach – Using an inductive constructivist qualitative methodology grounded in 12 case studies of internationalization in the NFP education sector, this study applies Dunning’s eclectic framework as its theoretical anchor. Findings – This study identified that entry mode choice in the NFP context may not always be reconciled with extant literature derived mostly from a for-profit context. In particular, the broader definition of offshore equity investment is in sharp contrast to previous entry mode research which is largely, if not exclusively, grounded in a for-profit context. Originality/value – Extant frameworks developed to explain the entry mode phenomena tend to assume a profit maximization philosophy. The propositions advocated in this study are a step further to develop our understanding of internationalization of NFP universities.

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Overcoming the Problem With Solving Business Problems: Using Theory Differently to Rejuvenate the Case Method for Turbulent Times

10.26686/wgtn.12735938.v1 ◽

2020 ◽

Author(s):

Todd Bridgman ◽

C McLaughlin ◽

Stephen Cummings

Keyword(s):

Management Education ◽

Profit Maximization ◽

Case Method ◽

Core Element ◽

Capitalist System ◽

For Profit ◽

Not For Profit ◽

Turbulent Times ◽

Business As Usual ◽

Critical Questioning

© 2018, The Author(s) 2018. A questioning of the neoliberal consensus in the global economic order is creating turbulence in Western democracies. Long regarded as the only viable capitalist model, neoliberalism is now subjected to increasing scrutiny. Management education that has been aligned to a neoliberal worldview must now respond to this shifting landscape in order to retain its legitimacy. One core element of management education undergoing revision as a result is the case method of teaching. The case method’s traditionally narrow focus on training students to solve business problems is increasingly problematic in an environment where the structure of the capitalist system in which firms operate is now a topic of debate. To address this, we argue for a reconceptualization of the case method’s relationship with theory. This has conventionally taken two forms: a hostility to any inclusion of theory in the analytical process and an approach that uses theory as an instrument for profit maximization. We propose an alternative third approach that encourages students to engage in a critical questioning of business-as-usual capitalism from the perspective of multiple stakeholders, including managers, employees, unions, not-for-profit organizations, government, and the natural environment.

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Assuring Not-For-Profit Hospital Competitiveness Through Proper Accounting For The True Cost Of Capital

Journal of Business & Economics Research (JBER) ◽

10.19030/jber.v8i11.42 ◽

2010 ◽

Vol 8 (11) ◽

Author(s):

Rakesh Duggal ◽

Michael Craig Budden

Keyword(s):

Cost Of Capital ◽

Profit Maximization ◽

Font Size ◽

Non Profit ◽

True Cost ◽

Wealth Maximization ◽

For Profit ◽

Not For Profit ◽

The Cost

The topic of cost of capital is very important, especially for not-for-profit (NFP) organizations.  Since profit maximization or stockholder wealth maximization cannot be their objective, NFP firms must be all the more aware of their costs, including the cost of capital, to sustain and grow the quality and quantity of their services to their consumers.  Yet, research into this topic has been lagging.  This paper adapts and enhances an existing methodology and illustrates how a non-profit hospital’s cost of capital can be estimated.

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Overcoming the Problem With Solving Business Problems: Using Theory Differently to Rejuvenate the Case Method for Turbulent Times

Journal of Management Education ◽

10.1177/1052562917754236 ◽

2018 ◽

Vol 42 (4) ◽

pp. 441-460 ◽

Cited By ~ 6

Author(s):

Todd Bridgman ◽

Colm McLaughlin ◽

Stephen Cummings

Keyword(s):

Management Education ◽

Profit Maximization ◽

Case Method ◽

Core Element ◽

Capitalist System ◽

For Profit ◽

Not For Profit ◽

Turbulent Times ◽

Business As Usual ◽

Critical Questioning

A questioning of the neoliberal consensus in the global economic order is creating turbulence in Western democracies. Long regarded as the only viable capitalist model, neoliberalism is now subjected to increasing scrutiny. Management education that has been aligned to a neoliberal worldview must now respond to this shifting landscape in order to retain its legitimacy. One core element of management education undergoing revision as a result is the case method of teaching. The case method’s traditionally narrow focus on training students to solve business problems is increasingly problematic in an environment where the structure of the capitalist system in which firms operate is now a topic of debate. To address this, we argue for a reconceptualization of the case method’s relationship with theory. This has conventionally taken two forms: a hostility to any inclusion of theory in the analytical process and an approach that uses theory as an instrument for profit maximization. We propose an alternative third approach that encourages students to engage in a critical questioning of business-as-usual capitalism from the perspective of multiple stakeholders, including managers, employees, unions, not-for-profit organizations, government, and the natural environment.

Download Full-text

Overcoming the Problem With Solving Business Problems: Using Theory Differently to Rejuvenate the Case Method for Turbulent Times

10.26686/wgtn.12735938 ◽

2020 ◽

Author(s):

Todd Bridgman ◽

C McLaughlin ◽

Stephen Cummings

Keyword(s):

Management Education ◽

Profit Maximization ◽

Case Method ◽

Core Element ◽

Capitalist System ◽

For Profit ◽

Not For Profit ◽

Turbulent Times ◽

Business As Usual ◽

Critical Questioning

© 2018, The Author(s) 2018. A questioning of the neoliberal consensus in the global economic order is creating turbulence in Western democracies. Long regarded as the only viable capitalist model, neoliberalism is now subjected to increasing scrutiny. Management education that has been aligned to a neoliberal worldview must now respond to this shifting landscape in order to retain its legitimacy. One core element of management education undergoing revision as a result is the case method of teaching. The case method’s traditionally narrow focus on training students to solve business problems is increasingly problematic in an environment where the structure of the capitalist system in which firms operate is now a topic of debate. To address this, we argue for a reconceptualization of the case method’s relationship with theory. This has conventionally taken two forms: a hostility to any inclusion of theory in the analytical process and an approach that uses theory as an instrument for profit maximization. We propose an alternative third approach that encourages students to engage in a critical questioning of business-as-usual capitalism from the perspective of multiple stakeholders, including managers, employees, unions, not-for-profit organizations, government, and the natural environment.

Download Full-text

Overcoming the Problem With Solving Business Problems: Using Theory Differently to Rejuvenate the Case Method for Turbulent Times

10.26686/wgtn.12735938.v2 ◽

2020 ◽

Author(s):

Todd Bridgman ◽

C McLaughlin ◽

Stephen Cummings

Keyword(s):

Management Education ◽

Profit Maximization ◽

Case Method ◽

Core Element ◽

Capitalist System ◽

For Profit ◽

Not For Profit ◽

Turbulent Times ◽

Business As Usual ◽

Critical Questioning

© 2018, The Author(s) 2018. A questioning of the neoliberal consensus in the global economic order is creating turbulence in Western democracies. Long regarded as the only viable capitalist model, neoliberalism is now subjected to increasing scrutiny. Management education that has been aligned to a neoliberal worldview must now respond to this shifting landscape in order to retain its legitimacy. One core element of management education undergoing revision as a result is the case method of teaching. The case method’s traditionally narrow focus on training students to solve business problems is increasingly problematic in an environment where the structure of the capitalist system in which firms operate is now a topic of debate. To address this, we argue for a reconceptualization of the case method’s relationship with theory. This has conventionally taken two forms: a hostility to any inclusion of theory in the analytical process and an approach that uses theory as an instrument for profit maximization. We propose an alternative third approach that encourages students to engage in a critical questioning of business-as-usual capitalism from the perspective of multiple stakeholders, including managers, employees, unions, not-for-profit organizations, government, and the natural environment.

Download Full-text